ZIP 38117 - 860Z200US38117 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 38117 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear, data-driven look at what makes this area unique. Located in the heart of Memphis, Tennessee, ZIP 38117 encompasses a vibrant community of over 26,000 residents. Whether you’re a homebuyer seeking a stable neighborhood, an investor eyeing property potential, or a small-business owner scouting for the right customer base, understanding the population, income, and housing trends here can guide your decisions. Let’s break down the 2023 data to reveal the opportunities and considerations in this area.

Population & Households

ZIP 38117 is home to a population of 26,327 individuals, making it a moderately sized community with a strong residential presence. These residents are distributed across 11,393 households, reflecting a mix of family and individual living arrangements. With 12,045 total housing units in the area, there’s a slight surplus of properties compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable neighborhood with room for growth, appealing to those seeking a settled yet dynamic place to live or work.

Income & Housing Costs

Financially, ZIP 38117 stands out with a median household income of $93,688, pointing to a relatively affluent community compared to national averages. This income level supports a robust local economy, which can be a draw for small businesses targeting middle- to upper-income customers. On the housing front, the median home value is $287,500, offering a range of options for buyers looking at mid-tier properties. For renters, the median rent of $1,353 per month reflects a competitive rental market, suitable for those not ready to buy but seeking a quality place to live. These figures highlight ZIP 38117 as a financially sound area with housing costs that align with its income demographics.

Race & Ethnicity

The demographic makeup of ZIP 38117 reveals a diverse yet predominantly white community, with 75.64% of residents identifying as white. Black residents make up 12.06% of the population, while Hispanic individuals account for 8.36%, and Asian residents comprise 2.09%. This diversity adds cultural richness to the area, creating a welcoming environment for families and businesses alike. For investors and business owners, this mix can inform marketing strategies or community engagement efforts, ensuring they resonate with the local population’s varied backgrounds.

Key Facts

• Total population: 26,327 residents, offering a sizable community for engagement or customer reach.
• Total households: 11,393, indicating a strong residential base for local services.
• Total housing units: 12,045, with a small surplus suggesting potential availability.
• Median household income: $93,688, reflecting economic stability and purchasing power.
• Median home value: $287,500, positioning the area as accessible for mid-range buyers.
• Median rent: $1,353, competitive for renters seeking quality housing.
• Racial diversity: Predominantly white (75.64%), with notable Black (12.06%) and Hispanic (8.36%) populations.

What This Means for You

For homebuyers, ZIP 38117 offers a promising mix of affordability and stability, with median home values at $287,500 and a community supported by a solid median income of $93,688. This suggests a neighborhood where property values are likely to hold steady, making it a smart choice for long-term residence. Investors and real estate agents will note the slight surplus of housing units (12,045 vs. 11,393 households), which could signal opportunities for rentals or flips, especially with a competitive median rent of $1,353. Small-business owners can leverage the area’s economic strength and diverse population of 26,327 to target a range of customers, particularly in sectors like retail or services that cater to middle-income families. Analysts studying market trends will find ZIP 38117’s demographic balance and income levels indicative of a sustainable local economy worth monitoring.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 38117? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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